An Act to Amend Title 18 of the Delaware Code Relating to Captive Insurance Companies.

Section 1 of this Act revises the following definitions:\r (1) “Dormant captive insurance company”, to change the criteria review period from a calendar year to a continuous 12-month period.\r (2) "Pure captive insurance company", to clarify that a pure captive insurer may insure its parent, its parent's affiliates, or a controlled unaffiliated business.\r (3) “Series”, to allow a registered series to be licensed as a captive insurer.\r \r Section 2 of this Act clarifies that a pure captive insurer may insure its parent, its parent’s affiliates, or a controlled unaffiliated business. Section 2 of this Act also expands the captive insurance licensing authority for a series as defined under…